Commodity Intraday Technical Outlook 16 February 2023 - Geojit Financial Services
Gold LBMA Spot
Inability to move past $1880 likely to extend weakness in the counter. A direct rise above $1900 would negate the view.
Silver LBMA Spot
A mild recovery upticks can be seen initially. However, a direct turn above $22.50 would trigger rallies.
Crude Oil NYMEX
Pullback rallies expected as long as the support of $77 remains undisturbed. A direct drop of which would trigger further selling pressure.
Gold KG Apr
A direct break above Rs 56600 is needed to extend buying interest. Else, there are chances of choppy with mild negative bias.
Silver KG Mar
If unable to break above Rs 68000 expect corrective selling pressure to continue the day. A direct rise above the same would trigger rallies.
Crude Oil Feb
Break above Rs 6750 is needed to extend rallies. Else, corrective selling pressure is on the cards for the day.
Natural Gas Feb
Prices broadly congested inside Rs 220-196 levels and breaking any of the sides would suggest fresh directional moves.
Copper Feb
If unable to move past 782 there are chances of corrective selling pressure to continue the day.
Nickel Feb
Expect choppy with thin volume trading in the near future.
Zinc Feb
Liquidation pressure may continue while prices stay below Rs 272. A direct turn above Rs 285 would trigger rallies.
Lead Feb
Corrective selling pressure would continue as long as Rs186 caps the upside.
Aluminium Feb
Prices remains choppy with mild negative bias. A direct turn above Rs 216 likely to negate the view.
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EURINR trading range for the day is 89.13 - 89.49. - Kedia Advisory